Statistical Overview of the LIHTC Program,1987 to 2008

Since beginning operation in the 1987 calendar year, the Low Income Housing
Tax Credit program has allocated $7.5 billion in federal tax credits for low income housing units.
The following table illustrates year-by-year allocations since 1987. Totals
include all 50 states, plus Puerto Rico and the Virgin Islands.

Year

Total Allocated

Total Units

Tax Credit Dollars Allocated Per Unit

1987

$62,885,954

34,491

$1,823

1988

$209,779,916

81,408

$2,577

1989

$307,182,516

126,200

$2,434

1990

$213,148,840

74,029

$2,879

1991

$400,420,875

111,970

$3,576

1992

$337,032,273

91,300

$3,691

1993

$424,701,977

103,756

$4,093

1994

$494,914,237

117,099

$4,226

1995

$420,922,941

86,343

$4,875

1996

$378,920,852

77,003

$4,921

1997

$382,894,328

70,453

$5,435

1998

$368,077,833

67,822

$5,427

1999

$374,670,775

62,240

$6,020

2000

$378,749,319

59,601

$6,355

2001

$462,426,235

67,261

$6,875

2002

$524,379,530

69,310

$7,566

2003

$572,121,789

73,877

$7,744

2004

$605,786,677

75,600

$8,013

2005

$612,605,239

70,630

$8,673

2006

$758,986,603

74,278

$10,218

2007

$790,346,182

74,663

$10,586

2008

$932,794,439

91,911

$10,149

Total

$10,013,749,330

1,761,245

$5,686

As the table illustrates, not every LIHTC dollar is allocated
every year. Those dollars not allocated in a given year are allowed to
carry over to the next year, hence the higher amounts allocated in some
years. In addition, some dollars not allocated, as well as allocations for units
that are not placed in service, are placed in a national pool and redistributed
to the states. As the table illustrates, the average allocation per low income
unit has increased significantly, from $1,823 in 1987 to $10,149 in
2008. This increase is most reflective of the increase in land
acquisition and development costs. It is worth noting that the increase in allocations
since 2001 is primarily a result of increasing the per capita rate on
which allocations are based.

The following pages provide detailed analyses of the LIHTC program at the state level.
Our spreadsheet has data not listed below, so for the full report, please
download the spreadsheet.